Geithner might leave Treasury post

Update: Timothy Geither denied that he’s planning to leave his post as Treasury Secretary. Questioned about his plans by former President Bill Clinton onstage at a meeting of the Clinton Global Initiative, he said he will stay in the job for the “forseeable future,” Associated Press reports.

Original post: Bloomberg and the New York Times are reporting that Treasury Secretary Timothy Geithner is considering leaving his position after President reaches an agreement with Congress to raise the federal debt limit.

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Timothy Geithner

The Times says that possible succcessors include Janet Yellen, the vice chair of the Federal Reserve (and former president of the San Francsico Federal Reserve Bank) and Gene Sperling, director of the National Economic Council.

Bloomberg reports that some Republicans are urging Obama to find someone from the business world.

Geithner was president of the Federal Reserve Bank of New York where he helped engineer the bailouts of several financial institutions in 2008. He became Treasury secretary in January 2009. Since 1988 he has been with the Treasury in various positions and the International Monetary Fund.

Both news reports say Geithner might be wanting to leave Washington, D.C. so his son can finish his senior year of high school in New York.